As a business owner, how do you determine the best salary to pay a particular staff?

[King Belieal]

Business people are always making decisions and one of such decisions is always determining the salaries that staff would be paid. How can a business owner determine the exact salary to pay a staff? What are the factors that determine that decision? Is it done before interviewing a prospective staff?

 

[Augusta]

it would be better if the person go with the minimum wage. you just go with what is obtainable everywhere

 

[Stardom22]

When the business is starting out and not making good profits, there shouldn't be a need to hire staffs as that would burden the business in terms of financial matters of the business is concerned

 

[Springtime]

If you need to hire good people, you have to pay a competitive salary. Check out the current market rate.

 

[eLdavis]

In most cases it is usually based on their worth and the amount of money that comes into the business.

 

[Kross]

All things being equal, you should start a staff based on the perceived value the staff brings to the company. Thereafter, it is based on actual value.

 

[magnus2022]

Business people are always making decisions and one of such decisions is always determining the salaries that staff would be paid. How can a business owner determine the exact salary to pay a staff? What are the factors that determine that decision? Is it done before interviewing a prospective staff?

The criteria to use pay workers depend solely on the entrepreneur. But entrepreneur should put some factors into consideration before ascertaining the amount to be paid. Some of the criteria include;
Minimum wage of the country
Qualification of the worker
Possible output of the worker
Income generation of the enterprise

 

[Trush Jodie]

The criteria to use pay workers depend solely on the entrepreneur. But entrepreneur should put some factors into consideration before ascertaining the amount to be paid. Some of the criteria include;
Minimum wage of the country
Qualification of the worker
Possible output of the worker
Income generation of the enterprise

You have said it spot on. But the challenge is always when some companies are making more money and they can afford to pay staff higher but hey just refuse.

 

[Min George]

To determine the best salary to pay a staff, you look at the experience of the staff and what they stand to offer the company.

 

[Miley]

To determined the best salary to pay your business staff has to be the way the staff has managed and work hard .